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on Transport Economics |
| By: | Antonio Bento; Kenneth Gillingham; Kevin Roth |
| Abstract: | The firm response to regulation is seldom as controversial as in the context of fuel economy standards, a dominant policy to reduce emissions from vehicles worldwide. It has long been argued that such standards lead to vehicle weight changes that increase accident fatalities. Using unconditional quantile regression, we are the first to document the effect of the Corporate Average Fuel Economy (CAFE) standards on the vehicle weight distribution. We find that on net CAFE reduced fatalities, with lowered mean weight dominating increased dispersion. When monetized, this effect suggests positive net benefits from CAFE even with no undervaluation of fuel economy. |
| JEL: | H23 I18 Q48 Q58 R41 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23340&r=tre |
| By: | Seungwoo Chin; Matthew E. Kahn; Hyungsik Roger Moon |
| Abstract: | Urban rail transit investments are expensive and irreversible. Since people differ with respect to their demand for trips, their value of time, and the types of real estate they live in, such projects are likely to offer heterogeneous benefits to residents of a city. Using the opening of a major new subway in Seoul, we contrast hedonic estimates based on multivariate hedonic methods with a machine learning approach that allows us to estimate these heterogeneous effects. While a majority of the "treated" apartment types appreciate in value, other types decline in value. We explore potential mechanisms. We also cross-validate our estimates by studying what types of new housing units developers build in the treated areas close to the new train lines. |
| JEL: | R21 R4 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23326&r=tre |
| By: | Cherevykov, Yevhen |
| Abstract: | The road sector is one of strategic segments of Ukrainian economy and public roads are considerable part of Ukrainian infrastructure potential. Many governments have been using PPP concerning highways and other fixed assets. Despite the successful development of the PPP/concession on construction and operation of motorway roads, the failures still happen. The inefficient project is those being prepared for a long period and still being unimplemented. The main obstacles and prerequisites for the PPP in the road sector in Ukraine are explored in this publication |
| Keywords: | PPP, concession, road sector, tolls, availability payment,institutional environment |
| JEL: | H44 M21 R42 |
| Date: | 2017–04–05 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:78299&r=tre |
| By: | Hakan Yilmazkuday (Department of Economics, Florida International University) |
| Abstract: | This paper investigates whether consumer search behavior differs across zip codes within the U.S.. As an application, daily gasoline price data covering virtually all gas stations within the U.S. are employed to estimate the distribution of search costs in each zip code. The results show that there are significant differences across zip codes regarding the expected number of searches achieved before consumers purchase gasoline. In order to have a systematic explanation, such differences are further connected to geographic, demographic and economic conditions of the zip codes in a secondary analysis. The corresponding results imply several strategies for gas stations in order to maximize profits/markups; suggestions follow for policy makers and regulators to reduce redistributive effects of information barriers across locations. |
| Keywords: | Consumer Search, Price Dispersion, Retail Gasoline |
| JEL: | D12 D83 L81 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:fiu:wpaper:1705&r=tre |
| By: | Ioannis Tikoudis; Walid Oueslati (OECD) |
| Abstract: | This paper describes MOLES 1.0, an integrated land-use and transport model developed with Object-Oriented Programming principles in order to combine selected characteristics from Spatial Computable General Equilibrium and microsimulation models. |
| Keywords: | air pollution, greenhouse gas emissions, land-use model, microsimulation, spatial general equilibrium, transport model |
| JEL: | C60 C68 D58 D62 H70 R00 R13 R14 R40 R52 |
| Date: | 2017–05–04 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:122-en&r=tre |